Notably, it appears more families are entering the market as the economy improves. Although still elevated in comparison to long-term averages, the share of absentee buyers — mostly investors — slid to 21.1%, the lowest percentage since April 2010, CoreLogic said.

“This is the real recovery,” Christopher Thornberg, founding partner of Beacon Economics, said of a market where increasingly buyers actually want to live in the houses they purchase. “The last was the investor recovery.”

Sustained job growth has given more people the confidence to buy houses, CoreLogic analyst Andrew LePage said.

The housing market improvement extends nationally, with sales of previously owned homes up in May to the highest pace in nearly six years, partly because more first-time buyers entered the market, according to data from the National Assn. of Realtors.

One factor driving deals is an expected decision from the Federal Reserve to raise its short-term interest rate later this year, real estate agents say.

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Description

Menifee Lakes home located in popular Belcanto tract. 4 bedrooms with balcony off master bedroom, 2.5 Bathrooms, Formal Dining room, living room has fireplace, upgrade kitchen with granite counters, stainless steel appliances, lots of upgraded white cabinets and breakfast nook. Family room has its own fireplace and slider door leads out to covered patio deck and beautiful brand NEW SOD in backyard. Laminate and tile flooring. 3 car garage has room could be used for an office. Lake entrance is just across the street, enjoy the beautiful 2.5 mile walking and biking path, fishing and picnic area. Close to schools, shopping medical and restaurants. Low Taxes!

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